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Stock Update (NYSE:BA): Boeing wins $3.2 billion U.S. defense contract -Pentagon

[Reuters] – Boeing Co was awarded a $3.2 billion contract modification to a previously awarded contract for Joint Direct Attack Munition tailkits, the Pentagon said on Tuesday. The contract for the tailkits, which … Read more on this. The Boeing Company (BA) , valued at $80.36B, began trading this morning at $129.88. During today’s session, BA traded between $126.04 to $129.98 with a trailing 52-week range being $102.10 to $150.59. Priced at 15.22x this year’s forecasted earnings, BA shares are relatively inexpensive compared to the industry’s 24.92x forward p/e ratio. And for dividend hunters, the company pays shareholders $4.36 per share annually in dividends, yielding 3.37%. In a review of the consensus earnings estimate this quarter, 15 sell-side analysts are looking at $2.14 per share, which would be $0.52 better than the year-ago quarter and a $0.02 sequential increase. The full-year EPS estimate is $8.49 which would be a $0.77 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $23.22 Billion. If realized, that would be a 5.38% decrease over the year-ago quarter. Recently, BofA/Merrill downgraded BA from Neutral to Underperform (Apr 20, 2016). Previously, Canaccord Genuity downgraded BA from Buy to Hold. When considering if perhaps the stock is under or overvalued, the average price target is $145.94, which is 12.37% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Company Update (NYSE:BA): Boeing set to win $2.9 billion contract from UK MoD: the Telegraph Market Update (NYSE:BA): Boeing wins contract for 11 P-8A aircraft Market Update: The Boeing Company (NYSE:BA) – Boeing wins contract to build new Air Force One presidential jets
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